This analysis provides a broad yet insightful view into the nuanced real estate landscape of Biloxi and its surrounding cities, highlighting both opportunities and changing trends that are characteristic of this diverse market area.
In the city of Biloxi, Mississippi, the property values reached $284,500 in May 2024, showing an increase from earlier months (but still below the high of $300,000 in July of last year). The average sale price per square foot remained stable at $127, indicating that the price per area has not changed significantly.
In May this year there were 171 properties for sale, with <a href="https://www.realtytrac.com/biloxi-ms/sold/">334 properties sold</a> during the same period—a robust sale rate indicating active market participation. The sale price in May averaged $229,975, below the average property value, hinting at possible better deals for buyers or adjustments in market expectations.
<h2>Comparative Analysis with Nearby Cities</h2>
Looking at nearby cities such as D’Iberville, <a href="https://www.realtytrac.com/market-trends/gulfport-ms/">Gulfport</a>, Ocean Springs, and Saucier, differing trends are clear. <a href="https://www.realtytrac.com/market-trends/diberville-ms/">D’Iberville</a> showed a decline in average values over the same period, from $354,420 in January 2024 to $315,000 in May 2024, despite a recovery in March. This city also experienced lower average sales prices than listed values, which might suggest a buyers’ market trend.
On the other hand, Gulfport witnessed a decrease in both property values and sale prices, with May 2024 values and sales pricing at $219,000 and $200,756 respectively. The property and sales counts in Gulfport were notably higher, with 284 properties available and 616 sold, which could reflect higher market liquidity compared to Biloxi.
<a href="https://www.realtytrac.com/market-trends/ocean-springs-ms/">Ocean Springs</a> showed a modest increase in average property values from January to May 2024 and had a higher average sale price per square foot than Biloxi, registering at $261,213 for average sales price in May. This suggests that Ocean Springs might have more upscale or desirable properties.
Saucier presented a mixed pattern with an average property value peaking in April at $290,000 but reducing significantly in May to $234,500. The average sales price closely matched the average values, indicating stable market expectations between buyers and sellers.
<h2>Detailed Market Analysis of Biloxi</h2>
In May there were <a href="https://www.realtytrac.com/biloxi-ms/for-sale/">177 properties listed for sale</a>; the average listing value stood at $268,789 with a per square foot price of $140, reflecting a premium based on area as opposed to the overall market. Recently, there have been <a href="https://www.realtytrac.com/biloxi-ms/sold/">318 sold properties</a> with average value at $231,189.5, suggesting a cooling market or a shift towards buyer advantage.
To search for homes for sale, <a href="https://www.realtytrac.com/biloxi-ms/for-sale/">click here</a> and you will be able to sort by bedrooms, bathrooms, and other home features:
<img loading="lazy" decoding="async" class="aligncenter size-full wp-image-25724" src="https://nicautomation.wpengine.com/wp-content/uploads/2024/06/Homes-for-sale-in-Biloxi.png" alt="" width="797" height="558" />
Biloxi’s foreclosure segment incorporated 6 properties with an average value of $197,209, and 4 auction properties, slightly higher in value at $201,824. Both these segments represent considerably lower values than regular market listings, potentially attractive to bargain hunters.
In the specific sub-markets of Biloxi, zip code 39532 showcased higher property values with a median listing price at $299,700 and an average value of $304,154 for 84 properties, highlighting it as potentially one of the more sought-after areas. Conversely, zip code 39530 presented a significantly lower median list price at $215,000, indicating different market dynamics within the city.

Market Reports

Biloxi Real Estate Peaks at $285k Despite a Market of Fluctuations in May 2024

From Jan-May 2024, Biloxi real estate property values peaked at $284.5K. The market showed robust activity with 171 properties listed for sale.

Biloxi Real Estate Peaks at $285k Despite a Market of Fluctuations in May 2024 - RealtyTrac

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RealtyTrac

Manuel is an expert in all things real estate, including buying and flipping homes.

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Manuel Martinez

Florida

Real Estate Report Tampa Florida

Tampa Real Estate Market Soars: Average Property Value Climbs to $440K by April 2024

Tampa’s real estate market demonstrated steady growth from May 2023 to April 2024, with rising property values and robust sales volumes. Comparative data also highlights Tampa’s appeal over neighboring cities.

Tampa Real Estate Market Soars: Average Property Value Climbs to $440K by April 2024 - RealtyTrac

https://www.realtytrac.com/wp-content/uploads/2024/05/Real-Estate-Report-Tampa-Florida.png

Illinois

Property Values and Sales on the Rise in Savannah, Georgia – April 2024

Market report of Savannah, GA, a real estate market that has shown consistent growth, with the average property value reaching nearly $400,000.

Property Values and Sales on the Rise in Savannah, Georgia – April 2024 - RealtyTrac

https://www.realtytrac.com/wp-content/uploads/2024/04/Real-Estate-Market-Report-Savannah-Georgia-April-2024.png

Connecticut

Augusta, ME Property Values Soar to $342K Amid Dipping Sales Volume

The Augusta, Maine real estate market has seen considerable growth in property values and price per square foot, despite a decrease in sales. Comparisons with neighboring cities suggest diverse market conditions.

Augusta, ME Property Values Soar to $342K Amid Dipping Sales Volume - RealtyTrac

https://www.realtytrac.com/wp-content/uploads/2024/04/Real-Estate-Report-Augusta-ME-April-2024.png

Biloxi Real Estate Peaks at $285k Despite a Market of Fluctuations in May 2024

$232,614

$129,194

$236,000